Cryptocurrency

Bitcoin Price Analysis: Aiming $10k very soon

Published

6 years ago

June 21, 2019

rsuser

Bitcoin has finally surpassed the previous record of $9,400 and set a new annual record higher than $9,500 at the time of writing this article

General Introduction Bitcoin Price:

Bitcoin moves in the market like a roller coaster. The people who invest in the coin are aware of the impulse of the coin and, therefore, they are not surprising. The currency is moving at its usual pace and in the coming months, Bitcoin could reach $10,000.

BTCUSD Dominant Trend: Bullish
Supply Levels: $10,100, $10,200, $10,300
Demand Levels: $8,500, $8,400, $8,300

In the last hours, Bitcoin has finally surpassed the previous record of $9,400 and set a new annual record higher than $9,500 at the time of writing this article. It looks like the five-digit road: $10,000 is closer than ever in 2019. The BTC/USD pair was seen at $9,269 on Thursday as the bulls struggle to keep small gains on Thursday. For most of this week’s offers, the BTC/USD exchange rate remained above $9,000. However, its supply was limited to $9,400. Regarding the hourly chart, the largest cryptocurrency continues following the new trend line for June. After the fall of the May peaks slightly above $9,000, the bulls found solace in the lowest ($7,450). The next levels to watch are $10,000, not only a psychological barrier, but also a level that limits the cryptocurrency granddaddy in May 2018. Then, we found $10,300 that stopped the Bitcoin gains in March of last year.

However, it was noted last week that BTC had to face some resistance around its current price levels, but its latest increase seems to confirm that crypto speculators are once again ready to significantly increase their price. The move to new heights in 2019 comes after the price of Bitcoin fell to $8,916 on June 18, before a push to buy back more than $9,000 on the same day. The coin then jumped by 4%, exceeding $9,400 on Thursday night and reaching more than $9,500 an hour and a half later. BTC/USD is trading in an uptrend above its main 50-day MA (orange line). The next supply to break is probably $10,100, $10,200 then $10,300 while the demand is at $8,500, $8,400 and $8,300. It’s currently changing hands at $9,580 as can be seen in the 4-hour chart. The MACD is gaining ground in the bullish zone while the RSI is moving to level 70.